Transport group Stagecoach said current trading remains good and it expects to at least maintain operating profit levels in the year to 30 April 2013.
The group, which recently introduced it Megabus brand into Europe with services running from London, Paris, Amsterdam and Brussels from as little as £1 or €1, said like-for-like revenue at its UK Bus operations rose 2.7% in the forty eight weeks ended 1 April 2012. Its bus division carries over two million passengers each day on over 8,000 vehicles.
UK Rail (excluding tram businesses) saw 8.8% growth for the period while revenue at its North America business, including megabus.com, increased 14% in the eleven months ended 31 March 2012. Virgin Rail revenue climbed 7.9% in the forty eight weeks ended 1 April 2012.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Stagcoach said overall profitability has remained good and remains upbeat about future trading.
"We believe the prospects for the group remain positive and that each of the Group's wholly owned divisions remain well placed to at least," it said in a pre-close trading update.
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
By Vaishali Varu Published
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published